Canada’s Non-Bank Lenders See Arrears Rate Rise 11%, Despite Deferral Programs

Canada’s non-bank lenders saw an unusual situation – mortgage growth, and rising arrears. Statistics Canada (Stat Can) data shows non-bank lenders had a big quarter extending mortgages in Q2 2020. The large growth in mortgage extension was accompanied by a sharp uptick in arrears. Highly unusual since those trends tend to require conditions opposite of […]


Fitch, Another Big Three Credit Agency, Forecasts Falling Canadian Real Estate Prices

Canadian real estate prices just got another negative forecast from a Big Three credit rating agency. Fitch Ratings released its Global Housing Outlook this month, which contained a forecast for Canadian home prices. The firm generally sees home prices falling next year, as well as the delinquency rate nearly doubling.  Canadian Real Estate Prices Forecasted […]

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This Week’s Top Stories: Canadian Banks Forecast Falling Real Estate Prices, and Mortgage Defaults Rise

Time for your cheat sheet on this week’s more important stories.  Canadian Real Estate RBC’s “Worst Case” For Canadian Real Estate Is A Price Drop Of Nearly 30% Canada’s largest bank’s risk scenarios show a larger downside than upside for real estate. RBC’s best cast scenario shows Canadian real estate prices rising 6.1% over the […]


Canadian Mortgage Arrears Hit Highest Level Since 2017, Even With Pandemic Measures

Canadian banks are seeing a higher rate of arrears on mortgages, despite support. Recently released Canadian Banks Association (CBA) data shows the mortgage arrears rate jumped in May. The rise in arrears implies non-payment issues were brewing before the pandemic. It also means the bank’s special treatment of mortgages hasn’t totally eliminated risk. About Canada’s […]